On June 27, 1942 a Wildcat of the squadron attacked a Royal Australian Air ForceCatalina flying boat of No. 11 Squadron, having mistaken it for a Japanese aircraft.[2] This led to the RAAF removing the red dot from the center of its roundel for the duration of the war in the Pacific in order to prevent confusion with the all-red hinomaru used as a roundel by Japanese aircraft.[3]

The squadron acquired an enviable record by destroying 64½ enemy planes including that of Toshio Ohta, a Japanese ace. Of this number, LtCol Harold "Indian Joe" Bauer, the squadron's first Commanding Officer, was credited with 11 kills and posthumously awarded the Medal of Honor for his valor.

The squadron returned to the United States in November 1942 and remained on the West Coast until June 1943 when they sailed for Midway Atoll. The squadron remained on Midway for two months and then returned to Espiritu Santo. By August 1943, VMF-212 was back in the Solomon Islands where they participated in the campaigns to retake Vella Lavella and Bougainville. From 20 October through 27 November 1943 the squadron was based out of Barakoma Airfield and supported operations in the Treasury Islands, Choiseul and Bougainville. By December 1943 they moved to Torokina Airfield and remained there until they moved again on 20 January 1944 this time to Piva Airfield. Another move came on 20 March when they transited to Green Island and later back to Vella Lavella. VMF-212 remained in the vicinity of the Solomons and Bismarck Islands for the remainder of 1944 running fighter sweeps against the Japanese garrison on Rabaul and providing close air support for ground forces on Bougainville. On 8 January 1945, VMF-212 landed on Samar and provided close air support for United States Army troops during the campaign to retake the Philippines. During this time they flew over Mindoro, Luzon, Visayas and Mindanao. It was also during this time that the squadron was a part of one of the worst aviation accidents of the war. At 09:40 on 24 January 1945, while taking off, 1Lt Karl Oerth of VMF-222 hit a lump in the runway, blew a tire and his Corsair careened wildly into his own squadron's revetment area, which was shared with VMF-212. It completely wiped out the tents housing the intelligence, oxygen, parachutes and materiel departments. Many men attempted to rescue the pilot but while they were making this brave effort the plane exploded and set off all its .50 cal ammunition. 14 men were killed and over 50 wounded during this incident.[4] In June 1945 the squadron arrived at Okinawa on the USS Hillsborough County (LST-827) and conducted operations from there until the end of the war.[5] During the duration of World War II, VMF-212 was credited with shooting down 132½ enemy aircraft[6] A Corsair which came to grief on Approach to Quoin Hill Airfield on Efate, Vanuatu is now a great dive attraction.

VMF-212, with no nickname at the time, was one of the first squadrons sent to Far East at the outbreak of the war. They remained in Japan until Marines were able to capture Kimpo Airfield after the Battle of Inchon. The squadron finally touched down in Korea on 18 September 1950 and were flying their first Corsair F4U-5 strikes by 20 September. The squadron was later moved to Wonson,North Korea late October 1951 than ontoYonpo Airfield in North Korea as the United Nations' forces continued their advance in the early winter of 1950. The squadron adopted the name "Devil Cats" and a new patch was designed. After the Chinese counterattack in late November 1950, VMF-212 aircraft flew almost continuous close air support missions supporting the 1st Marine Division as they fought their way out of encirclement during the Battle of Chosin Reservoir. After the fighting at Chosin, the squadron was ordered to operate from the USS Bataan (CVL-29)in December 1950 where they remained until 5 March 1951.

VMF-212 moved to being land based based at K3 Pohang, South Korea. The squadron left Korea in the Spring of 1951 and returned to Cherry Point NC. Those personnel who had extended enlistments transferred to VMF 214 at another Korean base. VMA-212's F4U Corsairs were replaced by upgraded AU-1 Corsairs in 1952. The AU-1 Corsair had armor plate around the cockpit and the oil coolers that were moved up to behind the engine. The squadron dropped more ordnance during the Korean War than any other Marine Corps squadron[citation needed]. The AU-1 Corsair had an additional center bomb rack which carried a 2000 lb. bomb until the rough Marston Matting, which was laid over the old pock-marked Japanese landing strip at K-6, caused the center bomb rack to break off. The AU-1 Corsair could carry a 2000 lb bomb on its center rack, two 1000 lb. bombs on the wing root bomb racks and 100 or 260 lb. bombs on its wing racks. It struggled up to enemy territory at approximately 140 knots. After releasing its bombs, the AU-l again became a fast fighter in close support of the front lines and a fighter capable of up to 600 knots in a dive. Colonel Robert Galer, a Marine Corps Ace from World War II, was the Commanding Officer of MAG-12 in 1952, when he was shot down behind enemy lines and protected by VMF-212 pilots until rescued by a Marine Corps helicopter.

An F-4 Phantom II from VMFA-212 preparing to take-off at MCAS Kaneohe Bay in 1983.

In April 1965, the squadron, now known as the "Lancers" sailed aboard the USS Oriskany becoming the first Marine jet squadron to be deployed aboard an aircraft carrier in combat. As part of Carrier Air Group 16 (CVW-16) they arrived off the coast of Vietnam and began operating from Yankee Station. From 10 May – 6 December 1965 the Lancers flew missions against targets in North and South Vietnam. During this tour they conducted more than 12,000 combat sorties and delivered nearly 10,000 tons of ordnance. Of note, during a mission on 9 September 1965 they became the first squadron to deliver 2,000-pound MK-84 bombs from an F-8 Crusader that had launched from an aircraft carrier. Also on that day the Commander, Air Group (CAG) of CVW-16 Commander James Stockdale'sA-4E Skyhawk was shot down over North Vietnam[7] making the commanding officer of VMF(AW)-212 the acting CAG until a replacement arrived.[8] This made 212's Commanding Officer LtCol Chuck Ludden the first Marine Officer to command a carrier airwing. In December 1965 the squadron returned to Hawaii having flown 3,018 combat hours and 1,588 sorties during their time off the coast of Vietnam.[9]

From 1974 until 1987, VMFA-212 deployed numerous times to Japan and the West Coast earning the CNO Aviation Safety Award, the Robert M. Hanson Award, and the Meritorious Unit Commendation. During October 1988, VMFA-212 completed its seventh and final rotation in the UDP as an F-4 Phantom squadron. With the last F-4 sorties flown in August 1988, over 23,000 accident-free hours had been accumulated. The F/A-18C Hornet was received at this time.

The Lancers were the second Marine Corps squadron to deploy after the September 11 attacks, following their aerial refueler aircraft from VMGR-152, the Sumos. The squadron left MCAS Iwakuni on 12 September and after being refueled over Iwo Jima, began flying Combat Air Patrols over Guam in support of Operation Noble Eagle.

In the spring of 2002 the squadron deployed to Kuwait. For the first time single seat C models and 2-seat Ds from VMFA (AW)-332 The Moonlighters were combined into one unit. The Moon-Lancers flew missions into Iraq in support of Operation Southern Watch and Afghanistan in support of Operation Enduring Freedom. The OEF missions were, on average, 10 hours in duration and mostly at night.

Due to a re-organization within Marine aviation, the squadron was deactivated in 2008 in order to facilitate the Corps' transition to the F-35.

The following members of VMF-212 were credited with shooting down at least five Japanese aircraft and earned the right to be called an Ace. The numbers after their name represents the number of enemy aircraft they were credited with shooting down.

In May 2008, a team from the Joint POW/MIA Accounting Command found the wreckage of an F4U Corsair (BuNo 55908) and the remains of 1stLt Allan S. Harrison III in the vicinity of Warangoi, Papua New Guinea.[11] 1stLt Harrison was shot down by a Japanese aircraft on 11 February 1944 while taking part in a raid on the Japanese garrison at Rabaul.[12]